Corporate training seems to be the key to business development – the topic is currently in the spotlight, and different methods are being developed.
However, what kind of effect does it have on learners? Does it actually pay off? What can corporate learning do for your business?
All of these questions didn’t have precise answers – up until now. For you to fully understand how corporate learning works, you need to dig deeper and explore its effects on your business model. With that kind of knowledge, you’ll be able to tweak and perfect your training.
1) Over 70% of Employees Want to Know More
Your employees want to learn, and they are not alone. This is the most important fact you should have in mind – contemporary business people want professional development.
So, if you still haven’t implemented corporate learning, or if you’re using outdated methods such as videos and manuals instead of LMS software, this should definitely change your mind.
2) 56% of People in HR Think Learning is Overlooked
Employees aren’t the only ones who think that corporate training is a necessity – your HR team feels the same.
Well, more than a half at least. The other part feels like they are meeting the needs of their employees fully. Which is something that can’t really be true considering the previous statistics we mentioned.
So, perhaps the first training course you implement in your office should be about communication and ways to straighten it.
3) A Third of Employees Leave after a Year
Professionals of the contemporary business era are ambitions – they want to be challenged and they want to attain a great deal of expertise within a narrow field.
The fact you’re failing to meet their needs might be the reason why you’re having difficulties with employee retention. Like we mentioned, more than two thirds of employees crave professional development. However, only one third will dare to look for a better business opportunity.
4) Losing an Employee Triples Costs of their Paycheck
While we’re on the subject, you should also be aware of the fact you’re actually losing a lot of money when your employees are not satisfied.
That third of employees that will leave you after a year can cause serious damage. Training a new employee costs three times as much as retaining one.
5) Over 60% of Managers Understand They Don’t Meet the Needs
Managers are closer to your employees than your HR department, which is why they possess more detailed information.
Over sixty percent of them understand that your employees are not satisfied with the way their career is headed. However, only something over thirty percent of them overall will dare to do something about it and suggest an innovation.
6) A Third of Employees Lack Inspiration
What makes a company develop aren’t administrative tasks and dull, monotonous activities. Although it’s true that this is a necessary part of every business, what counts the most are challenging, creative projects.
However, you can’t expect your employees to devote themselves to your company if they aren’t properly inspired – and over thirty percent of them isn’t.
Corporate training isn’t only useful when it comes to skill development – it’s also motivational. Learning new material actually produces a boost of energy. When the training is over, your employees will be ready for new challenges.
For that to happen, you can consider having a learning management system that hosts multiple courses under one dashboard. Then, your employees can access the courses anytime and anywhere to further their learning initiatives.
7) However, only 13% Apply Newfound Knowledge
But a disappointing fact is that the boost of inspiration doesn’t last too long, because just a handful of people in your company will apply their newfound knowledge long-term.
The reason behind this is quite simple; after training, no one is responsible for making sure that the new information is actually used in day-to-day activities.
Therefore, you need to monitor the work of your employees and encourage them to apply the material they’ve covered during training and develop their skills.
8) Ineffective Training Will Lose You a Lot of Money
Another reason why only thirteen percent of your employees will do something about the information they learned during training is its ineffectiveness.
As we mentioned in the beginning, you can’t just offer any kind of training – the further development of your employees needs to be in accordance with the contemporary business trends.
First of all, you can’t expect from your employees to get excited about learning something new if you pull out an old VCR and play them an outdated tape. So, technology matters.
Skyrocket Organizational Growth With eLearning
You should turn to LMS software in this case and explore its options. However, considering the fact that its popularity is on the rise, it might be overwhelming for you to find the right piece of software.
With these statistics in mind, you should be able to develop and implement corporate training properly. Just have in mind how important it is to monitor the work of your employees after you subject them to training, and you’ll be able to see significant changes quite soon.